Sensing the spirits of economy & financial markets

S&P500 new highs minus new lows move opposite of the S&P500 index

A zoom into the S&P500 stocks at 52-wk highs minus lows. I did the zoom as it struck me how there was a distinctive point where the S&P500 went up and the high minus lows went down. It suggest that a break of the steep uptrend of S&P500 is coming. Watch the mean level for the new high minus low indicator.
– if it holds, is a small correction and a “buy on the dip” -> this would be the best situation for the longer term
– if it breaks, and S&P breaks below 1300, it is a crack in the confidence of the latest uptrend